Air Lease Corporation Announces Pricing of $76.53 Million of 1.617% Notes Guaranteed by the Export-Import Bank of the United States Due 2024

LOS ANGELES, California, March 4, 2012 — Air Lease Corporation (NYSE: AL) (the “Company”) today announced the pricing of an offering of $76.53 million of 1.617% secured notes due 2024 (the “Notes”) guaranteed by the Export-Import Bank of the United States (“Ex-Im Bank”). The sale of the Notes is expected to close on March 11, 2013, subject to satisfaction of customary closing conditions.

The Notes will mature on August 15, 2024 and will bear interest at a rate of 1.617% per annum, payable quarterly in arrears on February 15, May 15, August 15 and November 15 of each year, commencing on May 15, 2013.

The Company intends to use the proceeds of the offering to refinance a portion of the purchase price of two Boeing 737-800 aircraft and to finance the related premium charged by Ex-Im Bank for its guarantee of the Notes (the “Ex-Im Bank Guarantee”).

ALEX Alpha, LLC is the issuer of the Notes. J.P. Morgan and Citigroup are acting as joint book-running managers for the offering of the Notes.

The Notes and the Ex-Im Bank Guarantee are exempt from the registration requirements of the United States Securities Act of 1933, as amended.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Notes, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the Company’s intent to offer the Notes and the anticipated terms of the offering. Such statements are based on current expectations and projections about our future results, prospects and opportunities and are not guarantees of future performance. Such statements will not be updated unless required by law. Actual results and performance may differ materially from those expressed or forecasted in forward-looking statements due to a number of factors, including those discussed in our filings with the Securities and Exchange Commission.